Alibaba Group Holding Limited released on Thursday its earnings results for the fourth fiscal quarter of 2022, revealing that its revenue grew by 9% to $32.19 billion led by the company's expansion in China. The number of annual active consumers increased by 28.3 million to 1.31 billion in the trimester ending March 31.
However, Alibaba saw a net loss of $2.56 billion, citing declines in investments in publicly traded companies, with a diluted loss per share of $0.12. Still, the Chinese company's stock rose over 2% in New York's premarket trading.
"Looking ahead, we will continue to execute on our multi-engine growth strategy by strengthening our digital infrastructure and focusing on quality growth to create long-term value for our customers, shareholders, and other stakeholders across our ecosystem," CEO Daniel Zhang noted.
